Magnetic Resonance Imaging MRI Robot-Assisted Surgeries Market

The rising acceptance and preference for minimally invasive surgeries (MIS) are further increasing the demand for MRI robot-assisted surgeries. This is due to quicker recovery, smaller incisions, reduced scarring and pain, increased accuracy, and shorter hospital stays. These benefits have increased the demand for MRI robot-assisted surgeries, as these robots are fully based on MIS.

Moreover, it offers several advantages over other imaging modalities. The advantages, such as providing positioning and stability accuracy through position sensing and control, which means that there is no need to move the patient out of the bore for intervention and back into the bore for surgery. Furthermore, it provides a completely intuitive user interface for planning the procedure, allowing for anatomical mapping of the patient via a scanner as well as robotic alignment.

In addition, the increasing prevalence of cancer across the globe is positively contributing to the market growth. For instance, as per the World Cancer Research Fund International, there were 18.1 million cancer cases worldwide in 2020. In this, the men's ratio was higher than the women's, and breast and lung cancer were the most common. Hence, offering several benefits over other imaging modalities and increasing prevalence of cancer globally propels market growth.

The Global Magnetic Resonance Imaging (MRI) Robot-Assisted Surgeries Market Industry is experiencing rapid growth due to continuous technological advancements in MRI systems. Innovations such as high-field MRI machines and improved imaging software enhance surgical precision and patient outcomes. For instance, the integration of artificial intelligence in MRI technology allows for better image analysis and interpretation, which is crucial for robot-assisted surgeries. As these technologies evolve, they are expected to drive the market significantly, contributing to the projected market value of 2.15 USD Billion in 2024 and potentially reaching 9.03 USD Billion by 2035.

By Region, the study segments the market into North America, Europe, Asia-Pacific, and Rest of the World. North America magnetic resonance imaging (MRI) robot-assisted surgeries accounted for the largest market share in 2022, due to the high adoption of MRI-assisted robots and the growing number of procedures owing to the high rates of cancer. As per the American Cancer Society, there were approximately 1.9 million new cancer cases in 2021 in the US.

Further, the major countries will be study are: The US, Canada, Germany, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.

Figure 3: MAGNETIC RESONANCE IMAGING (MRI) ROBOT-ASSISTED SURGERIES MARKET BY REGION 2022 & 2030Source: Secondary Research, Primary Research, Market Research Future Database and Analyst Review

Europe magnetic resonance imaging (MRI) robot-assisted surgeries accounted for the second-largest market share due to technology advancements, increasing healthcare expenditure, and increasing prevalence of neurological diseases and cardiovascular diseases. For instance, according to Eurostat, there were 38,900 bypass surgeries performed in Germany in 2020. Furthermore, the Germany magnetic resonance imaging (MRI) robot-assisted surgeries attributed to hold the largest market share, and the France magnetic resonance imaging (MRI) robot-assisted surgeries is projected be the fastest growing market in the Europe region.

The Asia-Pacific magnetic resonance imaging (MRI) robot-assisted surgeries market is expected to grow at a significant rate from 2023 to 2030 owing to the growing incidence of cancer and rising geriatric population in the region. Emerging economies, such as China, Japan, and India, have largest geriatric population. Moreover, China magnetic resonance imaging (MRI) robot-assisted surgeries accounted to hold the largest market share, and the India magnetic resonance imaging (MRI) robot-assisted surgeries is projected to be the fastest growing market in the Asia-Pacific region.

Major market players are spending a lot of money on R&D to increase their product lines, which will help the magnetic resonance imaging (MRI) robot-assisted surgeries grow even more. Market participants are also taking a range of strategic initiatives to grow their worldwide footprint, including new product launches, contractual agreements, mergers and acquisitions, increased investments, and collaboration with other organizations. Competitors in the magnetic resonance imaging (MRI) robot-assisted surgeries industry must offer cost-effective products to expand and survive in an increasingly competitive and rising market environment.

AiM Medical Robotics (US) is a neurosurgical robotics company dedicated to bringing high levels of precision, automation, and efficiency to the neurosurgery world. It is working on a portable, MRI-compatible surgical robot for use in MRI suites and operating rooms. In March 2022, the company was selected as a featured innovator at the LSI (Life Science Intelligence) 2022 Medtech Investor Summit. Moreover, in March 2022, the company raised USD 3.4 million, which was led by IQ Capital (US) and Surrey Capital (US). This funding has been used to accelerate the development of its industry-first MRI-compatible robotics platform.